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  Knowing about something and having the correct information about something are two different things. With abundant information flowing in the market, knowing which is right has become necessary, especially for those considering an Instant Personal Loan to manage their financial goals. Here are some myths and facts that individuals must know before applying for a  Personal Loan . This blog is sincerely dedicated to debunking common myths, countering them with the right & true facts, and forwarding the correct knowledge to you. Personal Loan Myths & Facts! Myth 1: Applying for a loan online is not secure. Fact:  The loan lending application uses advanced encryption and security measures to protect individuals' personal data. It safeguards customers' sensitive information, providing a secure environment for borrowers. Myth 2: Getting a loan approved online takes a long time. Fact:  Online personal loan apps are run on AI-driven technologies to speed up loan ap...

  Introduction There’s always a time when we get introduced to new words and new terminologies in the world. Continuous learning makes a human updated and knowledgeable. But, when it comes to personal loans, it is more than just a single word. In this ultimate layman’s guide for  personal loans , we will walk you through every little thing you must know about personal loans. What is a Personal Loan A personal loan is a financial support provided by banks, NBFCS and credit unions to borrowers. You receive an amount of money and agree to repay it with the cost of borrowing in equated monthly instalments. Terms Related to Personal Loans You Must Know Principal Loan Amount:  The total you are borrowing from your lender. It does not include the cost of borrowing you are repaying with the actual amount. Cost of Borrowing:  You pay a percentage of your principal amount while you repay your loan to the lender. It is called as cost of borrowing. Credit Score:  A three-di...

Ever felt overwhelmed by handling several EMIs every month? The constant juggle of making multiple payments and remembering the due dates to avoid late fee charges can be frustrating and keep you stuck in financial worries. But, debt consolidation is the thing that can help you manage your debts more smartly. Stick to the end of this blog to learn how you can simplify your debts with a debt consolidation strategy. What is Personal Loan Debt Consolidation? Debt consolidation is the action of combining multiple debts into a single and more manageable loan. It reduces your efforts and makes your repayments easier.  Why Use a Personal Loan for Debt Consolidation? A personal loan is an unsecured loan that can be used for a variety of purposes, including debt consolidation. This is why many people prefer personal loans to settle debt: Fixed interest rates: Personal loans often have fixed rates, unlike credit cards, which make your monthly payments predictable. Defined...